Economics · Elasticity of Supply

What is the elasticity of supply called when the proportionate change in supply is greater than the proportionate change in price?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Perfectly inelastic supply
2Perfectly elastic supply
3Relatively elastic supply✓
4Relatively inelastic supply

Correct answer

Relatively elastic supply

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What is the elasticity of supply called when the proportionate change in supply is greater than the proportionate change in price?

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What is the elasticity of supply called when the proportionate change in supply is greater than the proportionate change in price?

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